Loading…
Contact Information

605, SGH,
Vaishali Nagar, Jaipur, Rajasthan - 302021

We're Available 24/7. Call Now.

Cyril Amarchand Mangaldas advised abrdn (Mauritius Holdings) 2006 Limited (abrdn) in relation to the secondary trade by abrdn in HDFC Life Insurance Company Limited (HDFC Life). abrdn is one of the promoters of the HDFC Life and has undertaken multiple share sale after the IPO of the Company.

The Capital Markets Practice of Cyril Amarchand Mangaldas advised abrdn Group on the transaction documents. The transaction team was led by Abhinav KumarPartner.

Tax advisory was provided by SR PatnaikPartner & Head – Taxation; Kunal SavaniPartner; with assistance from Bipluv JhinganPrincipal Associate.

As a part of the transaction, abrdn undertook the sale by way of share sale on the screen-based trading of BSE Limited for an aggregate consideration of Rs 2,434 crores (approx.). The transaction involved a sale of 43,000,000 equity shares of the face value of Rs. 10 each of HDFC Life, representing 2.00% (approx.) of the total issued and paid-up equity share capital of HDFC Life, by abrdn.

Other Parties and Advisors to the transaction included BofA Securities India Limited (acted as the Broker).

The aggregate value of the transaction is INR 2,434 crore (approx.).

The transaction was signed on September 13, 2022; and closed on September 15, 2022.

SHARE:

NewsOnFloor Staff

NewsOnFloor Staff's knowledge of Bollywood film industry is tremendous and their writing attracts all the cinema lovers. Team follows everything which is happening on the bollywood street .

Leave A Reply

Your email address will not be published. Required fields are marked *